Helb To Name And Shame Loan Defaulters On Newspapers
The Higher Education Loans Board (Helb) is set to name and shame at least 85,000 Kenyans in 30 days, said to have defaulted their loans.
The loans board says that most of the beneficiaries in default have not responded to previous communication, therefore hindering financial support to other deserving Kenyans.
“The names and pictures will be published after the expiry of 30 days from the date of the notice and therefore legal action may be taken against each defaulter,” said Helb in a statement.
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According to Helb, it cannot trace 17,000 defaulters, while by last year 85,000 loan defaulters were owing the agency.
A total of 169,909 graduates had fully repaid their loans worth Ksh13.2 billion by September 2017, while some 136,783 beneficiaries were servicing loans worth Ksh20.7 billion.
The board said defaulters will have 30 days to come forward and explain how they will repay the loans.
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